The Goldman Sachs Group Issues Positive Forecast for Arista Networks (NYSE:ANET) Stock Price

Arista Networks (NYSE:ANET - Get Free Report) had its price objective upped by The Goldman Sachs Group from $135.00 to $145.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the technology company's stock. The Goldman Sachs Group's price target would indicate a potential upside of 47.50% from the stock's previous close.

ANET has been the subject of several other reports. Evercore ISI raised their target price on Arista Networks from $110.00 to $130.00 and gave the company an "outperform" rating in a research note on Friday, January 17th. StockNews.com downgraded Arista Networks from a "buy" rating to a "hold" rating in a research note on Thursday, December 12th. Morgan Stanley raised their target price on Arista Networks from $102.50 to $118.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. Citigroup raised their target price on Arista Networks from $115.00 to $121.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $145.00 price target on shares of Arista Networks in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $113.79.

Arista Networks Trading Down 4.9 %

NYSE:ANET traded down $5.10 during mid-day trading on Wednesday, hitting $98.31. The company had a trading volume of 13,984,341 shares, compared to its average volume of 10,062,921. The business has a fifty day simple moving average of $113.94 and a 200-day simple moving average of $101.57. Arista Networks has a 1 year low of $60.08 and a 1 year high of $133.57. The firm has a market capitalization of $123.84 billion, a price-to-earnings ratio of 44.28, a PEG ratio of 2.79 and a beta of 1.09.

Arista Networks (NYSE:ANET - Get Free Report) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. As a group, research analysts anticipate that Arista Networks will post 2.18 earnings per share for the current year.

Insider Buying and Selling at Arista Networks

In other news, Director Kelly Bodnar Battles sold 1,488 shares of Arista Networks stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $107.13, for a total transaction of $159,409.44. Following the sale, the director now owns 8,128 shares of the company's stock, valued at approximately $870,752.64. The trade was a 15.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total value of $825,300.00. Following the sale, the director now directly owns 42,946 shares in the company, valued at approximately $17,721,666.90. This trade represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 260,056 shares of company stock worth $30,225,623 over the last ninety days. Company insiders own 3.54% of the company's stock.

Institutional Investors Weigh In On Arista Networks

A number of hedge funds have recently made changes to their positions in ANET. Caitlin John LLC raised its holdings in shares of Arista Networks by 174.7% during the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company's stock valued at $26,000 after buying an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC raised its holdings in Arista Networks by 335.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock worth $27,000 after purchasing an additional 191 shares in the last quarter. Cranbrook Wealth Management LLC raised its holdings in Arista Networks by 300.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock worth $29,000 after purchasing an additional 198 shares in the last quarter. Trust Co. of Vermont raised its holdings in Arista Networks by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock worth $29,000 after purchasing an additional 198 shares in the last quarter. Finally, New Millennium Group LLC raised its holdings in Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock worth $29,000 after purchasing an additional 195 shares in the last quarter. Institutional investors own 82.47% of the company's stock.

About Arista Networks

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.